Geode Capital Management LLC Increases Stock Holdings in APA Co. (NASDAQ:APA)

Geode Capital Management LLC increased its stake in APA Co. (NASDAQ:APA) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,307,186 shares of the company’s stock after acquiring an additional 224,547 shares during the quarter. Geode Capital Management LLC’s holdings in APA were worth $226,928,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of APA by 12.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after acquiring an additional 3,411,270 shares during the last quarter. Harris Associates L P increased its position in shares of APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after purchasing an additional 485,291 shares in the last quarter. Smead Capital Management Inc. raised its stake in APA by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock valued at $236,466,000 after purchasing an additional 326,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in APA by 131.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after purchasing an additional 2,736,041 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the purchase, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APA. Scotiabank dropped their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Citigroup cut their price objective on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Susquehanna lowered their target price on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Barclays dropped their price target on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company reduced their price objective on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.52.

APA Trading Down 0.3 %

Shares of APA stock opened at $22.86 on Friday. APA Co. has a 1-year low of $20.95 and a 1-year high of $37.82. The firm has a market cap of $8.46 billion, a PE ratio of 3.23 and a beta of 3.18. The company has a 50-day moving average of $23.51 and a two-hundred day moving average of $26.58. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.37%. APA’s dividend payout ratio (DPR) is presently 14.12%.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.